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Home ➤ Electronics and Semiconductor ➤ Electronics ➤ Smart Kitchen Appliances Market
  • Home ➤ Electronics and Semiconductor ➤ Electronics ➤ Smart Kitchen Appliances Market

Global Smart Kitchen Appliances Market By Type (Smart Refrigerator, Smart Cookers, and Smart Hood), By Application (Commercial, and Household), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019-2028

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    Smart Kitchen Appliances Market Overview

    The market for Commercial Kitchen Appliances was valued at USD 89,186 million in 2021 and is forecast to grow at a 6.6% CAGR. This growth period will be between 2023-2032. This market will experience significant growth due to the growing popularity of Quick Service Restaurants (QSRs), and the expansion of the tourism and travel industry. The market for commercial kitchen equipment is also driven by the rising demand for fast food, increased commute times in metropolitan areas and cosmopolitan towns, as well as the rise in disposable income.

    Global Commercial Kitchen Appliances Market Analysis

    Product Analysis

    The largest revenue share, at over 42% in 2021, was held by the refrigerator segment. It is expected that this segment will experience substantial growth over the forecast period.

    End customers will be looking at refrigerators with the most advanced technologies to meet their growing food preservation needs. The demand for refrigerators will rise due to increased emphasis on advancements made in refrigeration technologies.

    Request Covid - 19 Impact

    The increased demand for combination ovens, induction stovetops, and other cooking appliances will drive the segment's growth to 7.1% during the forecast period. Induction cooking technology uses convection technology to evenly distribute heat for faster cooking. The rising fuel and electricity costs and awareness of the importance of conserving energy will drive increased demand for the induction range.

    A combination oven, which is an oven built-in with a microwave function is expected to grow at 7.2% CAGR during the forecast period. These ovens can cook multiple foods in the same unit using convection, microwave, and combination mode. These commercial kitchen appliances offer many advantages, such as high humidity, multi-level cooking, and airflow control. A combination oven can increase production capacity which in turn results in higher profitability and efficiency for end-use businesses.

    Commercial Kitchen Appliances Market

    End-Use Analysis

    Due to the rising trend of QSR outlets, both local and international, this segment will have a positive effect on the market's growth over the forecast period. The expansion of regional QSR brands is expected with new casual dining outlets opening in new regions.

    Both local and international fast-food chains are using technologically-updated kitchen appliances due to growing demand from the end-use industry for more efficient and innovative kitchen appliances. It is expected that there will be greater demand for digital appliances due to the increasing innovation required by QSRs in the equipment sector. A growing market for commercial kitchen appliances will result from QSRs focusing on innovation in menus, convenience, and pricing.

    Over the forecast period, cruise, rail, and airways catering will grow at a rapid CAGR. A significant increase in tourism is expected to drive demand for commercial cooking appliances for catering on rail, airways, or cruises. A growing number of people are using the transportation system to transport goods and services, which is making it more difficult for existing infrastructures to keep up with demand. As countries such as India, China, and Japan increase the number of trains annually, the railway dining industry and associated kitchen appliance industries are expected to see significant growth.

    Hospitals are expected to see significant growth in 2023-2032 due to the necessity to prepare meals in hospitals' vicinity in order to meet their nutritional needs. Hospital sector participants are expected to reap lucrative opportunities from the commercial kitchen appliances market.

    Key Market Segment

    By Product

    • Refrigerator
    • Dishwasher
    • Cooking Appliance
    • Other Products

    By End-Use

    • Quick Service Restaurants (QSRs)
    • Full-Service Restaurants (FSRs)
    • Institutional Canteens
    • Resorts & Hotels
    • Other End-Uses

    Market Dynamics

    The shift toward healthy eating habits and a lower-calorie diet is expected to have positive effects on the demand for nutritious food chains, and the commercial kitchen equipment that goes with them. In addition, increasing consumer spending on tourism and the hospitality industry is driving restaurant owners to invest in their infrastructure and provide better services. Market growth will be aided by a growing demand for upgraded kitchen equipment in commercial spaces.

    The demand for commercial kitchen appliances will rise due to the increasing use of smart equipment in the food service sector. This smart commercial equipment has advanced connectivity features. They are equipped with sensors that can connect to smartphones, tablets, and other household devices.

    Commercial kitchen equipment with digital transformation technologies like the Internet of Things (IoT), and Artificial Intelligence, (AI) is increasingly preferred by end-use industries. This allows them to provide continuous operations for their customers. Elanor, an Indian commercial refrigerator manufacturer, introduced IoT-enabled connected refrigerators with intuitive temperature management features and alerts to the HoReCa sector.

    The rise in awareness of commercial kitchen equipment as energy-efficient is expected to result in a significant increase in kitchen appliances for the commercial sector. Supportive government regulations for energy-efficient commercial equipment are expected to increase sales of commercial appliances and reduce energy consumption.

    Regional Analysis

    North America had a 33% revenue share in 2021, the highest. The industry is expected to grow due to the increasing number of restaurants and hotels in this region. This region is seeing a rise in the use of commercial kitchen appliances and the adoption of newer technology. A positive macro-economic environment in North America is driving demand for commercial kitchen appliances.

    Asia Pacific's quick-service restaurant market is expected to grow significantly as both international chains and local operators expand their business in the region. Foreign QSR chains are adapting to local tastes. Indian restaurants are adding multi-cuisine options to their food menus, including Indian, Mexican, and Continental cuisines. This is due to an increase in customers trying out new foods and developing a passion for different cuisines.

    MEA is expected to experience the highest CAGR at 7.3% during the forecast. Fast-food chains in this area are incorporating a wide variety of international food items into their menus to cater to the increasing tourism. A variety of food options are being offered at cruise ships, canteens, and ferry terminals. This will increase demand for commercial kitchen appliances.

    Commercial Kitchen Appliances Market Regional Share

    Key Regions and Countries covered іn thе rероrt:

    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Russia
      • Spain
      • Rest of Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Rest of Asia-Pacific
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • MEA
      • GCC
      • South Africa
      • Israel
      • Rest of MEA

    Market Share & Key Players Analysis:

    Blodgett Corporation is also a key market participant. Players like these are focused on the development of advanced appliances in order to increase their market reach and expand their product portfolio. Blodgett Corporation's freestanding ventless convection oven was launched in February 2020. It integrates with simple-to-use touchscreen controls. This oven can be used in hospital cafeterias, institutional and fast-casual restaurants as well as other food service facilities. This commercial kitchen equipment is part of the company's strategy to increase its product line in the energy-efficient appliances segment.

    Commercial kitchen equipment's success is due to the fact that it considers other market players in household appliances and makes investments in related product categories. Whirlpool Corporation launched its commercial oven, dishwasher, and ice maker. This company is one of the most prominent in the household kitchen appliances industry. This foray into commercial sales will allow the company to grow its product range.

    Many cooking appliance manufacturers are also focusing on strategic alliances and mergers and acquisitions to improve their competitive edge over their customers and increase their customer reach. Parts Town, a U.S.-based distributor for commercial foodservice equipment, purchased PartsXpress, which supplies foodservice and commercial appliances parts to Smart Care Equipment Solutions. Parts Town will be the sole supplier of OEM parts to Smart Care Equipment Solutions with this acquisition.

    Commercial Kitchen Appliances Market Company Share

    Маrkеt Кеу Рlауеrѕ:

    • Bakers Pride
    • S. Blodgett Corp.
    • Vulcan LLC
    • Whirlpool Corp.
    • Bonnet International
    • Garland Group
    • Ali Group
    • True Manufacturing
    • Other Key Players

    For the Smart Kitchen Appliances Market research study, the following years have been considered to estimate the market size:

    Particular Scope
    Region

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
    Historic Year 2016 to 2020
    Estimated Year 2022
    Forecast Year 2023 to 2032

    Frequently Asked Questions (FAQ)

    Q: What is the size of the Commercial Kitchen Appliances market in 2021?

    The Commercial Kitchen Appliances market size is US$ 89,186 million in 2021.

    Q: What is the projected CAGR at which the Commercial Kitchen Appliances market is expected to grow at?

    The Commercial Kitchen Appliances market is expected to grow at a CAGR of 6.6% (2023-2032).

    Q: List the segments encompassed in this report on the Commercial Kitchen Appliances market?

    Market.US has segmented the Commercial Kitchen Appliances market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Product, the market has been segmented into Refrigerator, Dishwasher, Cooking Appliance, and Other Products. By End-Use, the market has been further divided into Quick Service Restaurants (QSRs), Full Service Restaurants (FSRs), Institutional Canteens, Resorts & Hotels, and Other End-Uses.

    Q: List the key industry players of the Commercial Kitchen Appliances market?

    Bakers Pride, G.S. Blodgett Corp., Vulcan LLC, Whirlpool Corp., Bonnet International, Garland Group, Ali Group, True Manufacturing, and Other Key Players are engaged in the Commercial Kitchen Appliances market.

    Q: Which region is more appealing for vendors employed in the Commercial Kitchen Appliances market?

    North America is expected to account for the highest revenue share of 33%. Therefore, the Commercial Kitchen Appliances Technology industry in North America is expected to garner significant business opportunities over the forecast period.

    Q: Name the key areas of business for Commercial Kitchen Appliances?

    The US, Canada, UK, Japan, Mexico, India, China & Germany are key areas of operation for the Commercial Kitchen Appliances Market.

    Q: Which segment accounts for the greatest market share in the Commercial Kitchen Appliances industry?

    With respect to the Commercial Kitchen Appliances industry, vendors can expect to leverage greater prospective business opportunities through the refrigerator segment, as this area of interest accounts for the largest market share.

    Smart Kitchen Appliances Market

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    • Bakers Pride
    • S. Blodgett Corp.
    • Vulcan LLC
    • Whirlpool Corp.
    • Bonnet International
    • Garland Group
    • Ali Group
    • True Manufacturing
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